Zionism and the Creation of Modern Israel
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A History of Money in Palestine: from the 1900S to the Present
A History of Money in Palestine: From the 1900s to the Present The Harvard community has made this article openly available. Please share how this access benefits you. Your story matters Citation Mitter, Sreemati. 2014. A History of Money in Palestine: From the 1900s to the Present. Doctoral dissertation, Harvard University. Citable link http://nrs.harvard.edu/urn-3:HUL.InstRepos:12269876 Terms of Use This article was downloaded from Harvard University’s DASH repository, and is made available under the terms and conditions applicable to Other Posted Material, as set forth at http:// nrs.harvard.edu/urn-3:HUL.InstRepos:dash.current.terms-of- use#LAA A History of Money in Palestine: From the 1900s to the Present A dissertation presented by Sreemati Mitter to The History Department in partial fulfillment of the requirements for the degree of Doctor of Philosophy in the subject of History Harvard University Cambridge, Massachusetts January 2014 © 2013 – Sreemati Mitter All rights reserved. Dissertation Advisor: Professor Roger Owen Sreemati Mitter A History of Money in Palestine: From the 1900s to the Present Abstract How does the condition of statelessness, which is usually thought of as a political problem, affect the economic and monetary lives of ordinary people? This dissertation addresses this question by examining the economic behavior of a stateless people, the Palestinians, over a hundred year period, from the last decades of Ottoman rule in the early 1900s to the present. Through this historical narrative, it investigates what happened to the financial and economic assets of ordinary Palestinians when they were either rendered stateless overnight (as happened in 1948) or when they suffered a gradual loss of sovereignty and control over their economic lives (as happened between the early 1900s to the 1930s, or again between 1967 and the present). -
The Banking System in Israel
CHAPTER XIV THE BANKING SYSTEM IN ISRAEL I. DEVELOPMENT OF THE BANKING SYSTEM Israel possesses a welldeveloped banking system, evidenced by the fact that bank deposits constitute some 60 per cent of the money supply. Apart from one or two banks founded in the period of the Ottoman Empire (such as, for example, the Bank Leumi LeTsrael B.M., formerly the AngloPalestine Bank Ltd.), most of the banks now functioning in Israel were established during the British Mandate. During this period, some dozens of banks were founded; but the economic crises which hit Palestine during the Abyssinian War and again at the outbreak of World War II, resulted in the liquidation of many of the smaller, and the strengthening of the more solid, institutions. The Banking Ordinance, 1921, which ifxed the legal basis of bank operations, was amended several times and the changes were eventually consolidated in the Banking Ordinance, 1941, which is still in force today. The Ordinance provided, inter alia, that no banking business might be conducted without a permit from the High Commissioner, that the minimum approved nominal capital of a bank be £P. 50,000, the minimum paidup capital be £P.25,000; and that all banks submit a monthly report to the Financial Secretary on their assets and liabilities. The Ordin ance also imposed on all banks the obligation to publish an annual balance sheet and a profit and loss account. The High Commissioner appointed a Controller of Banks and an Advisory Committee for Banking. With the creation of the State of Israel, the powers exercised by the High Commissioner under the Banking Ordinance were transferred to the Minister of Finance, and the control over banking activities was vested in the Department of Bank Control, a partofthe Ministryof Finance A new Advisory Committee for Bank ing was appointed by the Minister of Finance; its function was to consider problems relating to the activities of the banking system and to submit its recommendations to the Minister. -
Domestically Owned Versus Foreign-Owned Banks in Israel
Domestic bank intermediation: domestically owned versus foreign-owned banks in Israel David Marzuk1 1. The Israeli banking system – an overview A. The structure of the banking system and its scope of activity Israel has a highly developed banking system. At the end of June 2009, there were 23 banking corporations registered in Israel, including 14 commercial banks, two mortgage banks, two joint-service companies and five foreign banks. Despite the spate of financial deregulation in recent years, the Israeli banking sector still plays a key role in the country’s financial system and overall economy. It is also highly concentrated – the five main banking groups (Bank Hapoalim, Bank Leumi, First International Bank, Israel Discount Bank and Mizrahi-Tefahot Bank) together accounted for 94.3% of total assets as of June 2009. The two largest groups (Bank Leumi and Bank Hapoalim) accounted for almost 56.8% of total assets. The sector as a whole and the large banking groups in particular are organised around the concept of “universal” banking, in which commercial banks offer a full range of retail and corporate banking services. Those services include: mortgages, leasing and other forms of finance; brokerage in the local and foreign capital markets; underwriting and investment banking; and numerous specialised services. Furthermore, until the mid-1990s, the banking groups were deeply involved in non-financial activities. However, a law passed in 1996 forced the banks to divest their controlling stakes in non-financial companies and conglomerates (including insurance companies). This development was part of a privatisation process which was almost completed in 2005 (with the important exception of Bank Leumi). -
Financial Statements
BANK LEUMI LE-ISRAEL B.M. AND ITS INVESTEE COMPANIES Annual Report 2009 Bank Leumi le-Israel B.M. Head Office: 34 Yehuda Halevi Street, Tel Aviv 65546, Israel The Bank has received the consent of the Supervisor of Banks to the publication of the annual financial report on a consolidated basis only, with condensed statements of the Bank (not consolidated) in Note 30 to the Financial Statements. The figures of the Bank alone are available on request from the offices of the Bank at 34 Yehuda Halevi Street, Tel Aviv or on its website: www.bankleumi.com. This is a translation from the Hebrew and has been prepared for convenience only. In the case of any discrepancy, the Hebrew will prevail. 1 2 Bank Leumi le-Israel B.M. and its Investee Companies Annual Report 2009 Index Page Directors' Report A. General Board of Directors 5 Management 7 B. General Developments in the Group's Business Description of the Leumi Group's Business Activities and their General Development 8 Business Strategy 14 Control of the Bank 17 Description of Operating Segments 21 Capital Resources and Transactions in the Shares of the Bank 26 Distribution of Dividends 33 Principal Data in the Last Five Years 34 C. Other Information Principal Developments in the Economy 35 General Environment and the Effect of External Factors on Activities 43 Legislation Affecting the Banking System 43 Accounting Policy on Critical Subjects 52 Disclosure on the Procedure for Approval of the Financial Statements 58 D. Description of the Group's Business according to Segments and Areas of Activity -
The Story of Israel As Told by Banknotes
M NEY talks The Story of Israel as told by Banknotes Educational Resource FOR ISRAEL EDUCATION Developed, compiled and written by: Vavi Toran Edited by: Rachel Dorsey Money Talks was created by Jewish LearningWorks in partnership with The iCenter for Israel Education This educational resource draws from many sources that were compiled and edited for the sole use of educators, for educational purposes only. FOR ISRAEL EDUCATION Introduction National Identity in Your Wallet “There is always a story in any national banknote. Printed on a white sheet of paper, there is a tale expressed by images and text, that makes the difference between white paper and paper money.” Sebastián Guerrini, 2011 We handle money nearly every day. But how much do we really know about our banknotes? Which president is on the $50 bill? Which banknote showcases the White House? Which one includes the Statue of Liberty torch? Why were the symbols chosen? What stories do they tell? Banknotes can be examined and deciphered to understand Like other commemoration the history and politics of any nation. Having changed eight agents, such as street times between its establishment and 2017, Israel’s banknotes names or coins, banknotes offer an especially interesting opportunity to explore the have symbolic and political history of the Jewish state. significance. The messages 2017 marks the eighth time that the State of Israel changed the design of its means of payment. Israel is considered expressed on the notes are innovative in this regard, as opposed to other countries in inserted on a daily basis, in the world that maintain uniform design over many years. -
Bezeq's IPVPN Networkb in All Bank Leumi Branches
Bezeq's IPVPN networkb in all bank Leumi branches October 9, 2005 Bezeq's IPVPN network in all bank Leumi branches In the past few days, the connection of about 250 branches of Bank Leumi to Bezeq's IPVPN and transmission networks was completed. This means that Bank Leumi provides an IPVPN network of Bezeq, secure and surviving broadband communications enabling the running of applications and transfer of content between the branches of the bank. The bank's customers are already enjoying faster and more efficient service. Broadband lines have been installed in the bank's main offices for full back-up of the computer centers, and transmission systems which are among the largest in the country have been set up. A Cisco router has been installed in every branch, and the optical infrastructure in most of the branches has been upgraded. The project, which lasted about a year, was implemented by employees from Bezeq's Engineering and Planning Division, Sales and Marketing Division and Bezeq Business Unit. The project will be extended to upgrade the entire communications array at Bank Leumi, positioning the bank as a leader in banking communications not only in Israel but worldwide. The successful completion of the project was marked by a festive ceremony attended by the heads of Bezeq and Bank Leumi. Rami Hazan, VP for Sales and Marketing, said that Bezeq's unique IPVPN service is proving to be a quality service in great demand, and since the beginning of 2004, 650 organizations and 30,000 lines have been connected. "Bezeq is the only one in Israel to offer nationwide IPVPN service, and therefore the only one who can provide organizations such as Bank Leumi with the service wherever it has a branch – be it Ofakim or Tel Aviv, the bank receives the same high quality service at all times." Hazan added that Bezeq has set up a dedicated support center for IPVPN customers, available 24/7, which is staffed by dozens of employees with computer communications qualifications and who specialize in IPVPN. -
Class Actions Against Banks Under the New Israeli Law on Class Actions
CLASS ACTIONS AGAINST BANKS UNDER THE NEW ISRAELI LAW ON CLASS ACTIONS * DR. RUTH PLATO SHINAR I. Introduction....................................................................256 II. Causes of Action for Class Actions Against Banks ....... 259 III. The Representative Filing The Action ........................... 264 IV. The Conditions for Certification of a Class Action....... 265 V. Conclusion .................................................................... 281 * Dr. Ruth Plato Shinar is the Senior Lecturer and Director of the Center for Banking Law, Netanya Academic College, Israel. The author wishes to thank the Van Calker Foundation and the Swiss Institute of Comparative law for their generous support of the research for this article, which was principally conducted at the Swiss Institute of Comparative Law in Lausanne, Switzerland during the summer of 2006. 2007 CLASS ACTIONS AGAINST BANKS IN ISRAEL 256 I. INTRODUCTION In March 2006, Israel enacted a modern and far-reaching Class Action Law1 (the “Class Action Law”) to regulate class action suits in a centralized and exhaustive manner. Prior to the law’s enactment, class actions in Israel were common in various fields,2 including banking. The basis for class actions against banks was the Banking (Service to Customer) Law (“the Banking Law”), which contained a chapter on class actions. However, the new Class Action Law abolished this chapter, as well as all other laws concerning Class Actions in different fields, and today the arrangement of class actions is concentrated in -
AMERICAN JEWS and the FLAG of ISRAEL Jonathan D
AMERICAN JEWS AND THE FLAG OF ISRAEL Jonathan D. Sarna University Professor Joseph H. and Belle R. Braun Professor of American Jewish History Chair, Hornstein Jewish Professional Leadership Program Brandeis University AMERICAN JEWS AND THE FLAG OF ISRAEL Jonathan D. Sarna University Professor Joseph H. and Belle R. Braun Professor of American Jewish History Chair, Hornstein Jewish Professional Leadership Program Brandeis University Boston in the 1890s A community of about 35,000 Jews 170 Hanover Street Address of Zion Hall in Boston’s North End Governor Charlie Baker’s trade mission to Israel, in which Brandeis University President Ron Liebowitz and so many other business and civic leaders are participating, is devoted to strengthening the ties between Massachusetts and the State of Israel. My goal here is to demonstrate that these ties stretch back much farther than generally known. Indeed, they actually precede the first Zionist Congress of 1897, and they embrace not only eco- nomic and ideological ties but even the flag of the State of Israel, which, as we shall see, has significant — if not widely known — connections to Boston and the United States. The Boston Jewish community was small in 1890, but already it was robustly Zionist. A total of about 35,000 Jews lived in the city, the majority of whom were recent immi- grants from Lithuania, where, in Jewish circles, love of Zion was commonplace. In Boston, Zionism faced fewer obstacles than in many other American cities. Boston’s large Irish population loved Ireland, so there was understanding and sympathy for Jews who loved Zion. -
Copy of Copy of IHS ED GUIDE TEMP WIZ
WHAT IS ZIONISM? Section 1: Additional Resources Anita Shapira, Israel: A History, Part 1, Chapter 1 Arthur Herzberg, The Zionist Idea, Introduction Gil Troy, The Zionist Ideas, Introduction Jewish Virtual Library, “Israel: Zionism,” https://www.jewishvirtuallibrary.org/zionism Micah Goodman, https://www.youtube.com/watch?v=IkBYF4KAir8 Daniel Septimus, https://www.myjewishlearning.com/article/questioning-zionism/ Zack Beauchamp, “What is Zionism?” https://www.vox.com/2018/11/20/18080010/zionism-israel-palestine Section 2: Discussion Questions Daniel Septimus notes that when Zionism was formed, it was knocked from the Reform left because the Reform movement viewed Judaism as a religion and not a people, and it was knocked from the right because the religious community viewed Zionism as blasphemous because the “Zionists were revolting against God’s will.” If the Jewish people accepted Zionism earlier on, do you think history would have played itself out in the same way or in a different way? One of the fundamental disputes between Jabotinsky and Herzl was on the impact Zionism would have on anti-Semitism. Herzl believed Zionism would end anti-Semitism, while Jabotinsky believed Zionism would serve as a protection from anti-Semitism. While it seems like anti-Semitism is not going away, what role do you see the Jewish state playing in combating anti-Semitism, and who do you think is responsible to stop anti- Semitism? If Zionism can simply be understood as the Jewish national liberation movement, why do you think some people are opposed to the idea of Zionism? Now that Zionism has reached a major goal of developing a Jewish state, what role do you see Zionism playing? All Rights Reserved Jerusalem U Israel Education Media Lab 2018 Section 3: Review 1. -
Lexicon of Zionism
Lexicon of Zionism By Ahuzat Bayit In 1907, Jewish residents of Jaffa formed a society by the name of Ahuzat Bayit, with a view towards establishing a neighborhood outside the congested city. With funds lent by the Jewish National Fund, land was purchased near Jaffa. The parcels were drawn by lot, and the foundations of the first building were laid in 1909. Ahuzat Bayit merged with two other new neighborhoods, Nahalat Binyamin and Geula, and they were together named "Tel Aviv," the title of Nahum Sokolow's Hebrew translation of Herzl's utopian novel, Altneuland. Aliya - see "Aliya and Absorption", Centenary of Zionism series. Aliya Bet A branch of the Haganah headed by Shaul Avigur, established to organize illegal immigration to Palestine. Established in 1939, the organization concentrated on rescuing Jews from Europe. When sea routes had to be abandoned, it switched to land-based illegal immigration from Arab countries. In the last year of the war, immigration via Romania resumed. Between 1945-48, Aliya Bet organized 65 voyages that carried about 70,000 displaced persons and refugees from European and North African ports to Palestine. The organization established a network of emissaries in Europe, America, North Africa and the Middle East, who handled purchasing and outfitting of the vessels and appointed commanders and radio operators for the immigration ships. A communications network was set up between Palestine and all Aliya Bet emissaries, as well as with the Palestine-bound vessels and the British internees' camps in Cyprus. After the establishment of the State of Israel, the Aliya Bet emissaries focused on immigrants from Arab countries. -
Mandate for Palestine” the Legal Aspects of Jewish Rights to a National Home in Palestine Eli E
“Mandate for Palestine” The legal aspects of Jewish rights to a National Home in Palestine Eli E. Hertz 1920 - Original territory assigned to the Jewish National Home 1922 - Final territory assigned to the Jewish National Home © 2007, Eli E. Hertz 1 Mandate For Palestine “In Palestine as of right and not on sufferance ...” “When it is asked what is meant by the development of the Jewish National Home in Palestine, it may be answered that it is not the imposition of a Jewish nationality upon the inhabitants of Palestine as a whole, but the further development of the existing Jewish community, with the assistance of Jews in other parts of the world, in order that it may become a centre in which the Jewish people as a whole may take, on grounds of religion and race, an interest and a pride. But in order that this community should have the best prospect of free development and provide a full opportunity for the Jewish people to display its capacities, it is essential that it should know that it is in Palestine as of right and not on sufferance. That is the reason why it is necessary that the existence of a Jewish National Home in Palestine should be internationally guaranteed and that it should be formally recognized to rest upon ancient historic connection.” Winston Churchill British Secretary of State for the Colonies June 1922 Copyright © 2007 Myths and Facts, Inc. and Eli E. Hertz ISBN 10: 0-9741804-2-4 Library of Congress Control Number: 2007930693 Published by: Myths and Facts, Inc. -
The Palestine Currency Board Its History and Currency
SAE./No.184/June 2021 Studies in Applied Economics THE PALESTINE CURRENCY BOARD ITS HISTORY AND CURRENCY Howard M. Berlin Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise The Palestine Currency Board: Its History and Currency By Howard M. Berlin About the Series The Studies in Applied Economics series is under the direction of Prof. Steve H. Hanke, Founder and Co-Director of the Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise ([email protected]). This working paper is one in a series on currency boards. The currency board working papers fill gaps in the history, statistics, and scholarship of the subject. About the Author Dr. Howard M. Berlin ([email protected]) received BEE and BA degrees from the University of Delaware, an MS degree in electrical engineering from Washington University, and an MEd degree in computer science education as well as a doctorate in educational statistics from Widener University. He had been elected as a Senior Member of the Institute of Electrical and Electronic Engineers (IEEE), and elected to RESA, Sigma Xi, and Phi Theta Kappa honor societies. Dr. Berlin had been an electrical engineer with the U.S. Department of Defense for 13 years, during which time he was awarded three U.S. patents. He then retired after 22 years from the Electronic/Electrical Engineering Technology faculty at the Stanton Campus of Delaware Technical Community College. Dr. Berlin has also taught undergraduate and graduate courses at several universities as well as short courses at conferences. He is the author of many magazine articles, journal articles, and editorials, in addition to over 30 books, that cover diverse areas of electronic circuit design, financial markets, numismatics, and the cinema.